The Iowa Utilities Board has approved a rate increase by Alliant Energy.

Residential Alliant customers will now face a rate hike from $11.50 to $13 while general service customers' rates are upped from $19 to $20.

Because this $127 million overall increase is less than the $206 million Alliant had asked for, some customers who were already paying the increase are getting a refund. A $7.5 million collective refund for customers who paid Alliant’s interim rates was approved.

The interim rate increase went into effect in April and hiked the average $116 monthly electric bill for a typical residential customer by approximately $8.

The utility board approved other items as well, including a $4.06 monthly fee for those customers refusing to use a smart meter, as well as a renewable energy rider line item on customers’ bills to help Alliant recover costs of wind energy projects going into service this year. An Alliant spokesperson told the Gazette this line item will delay its need to pursue a rate increase in 2021.

[Via Gazette]